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Monthly Archives: February 2018

Equity release is a frequently discussed topic these days. According to statistics from the Equity Release Council, older homeowners released £3.06 billion of equity from their homes in 2017. In the last quarter of 2017 the equity release industry broke new records with annual lending growth in the sector reaching the highest levels since 2002. So, equity release is clearly a popular option for older UK homeowners – but is the trend likely to continue? What is equity release? It is a way for UK homeowners to access some of the value that has been built up in their property by paying off the mortgage. The equity in the property – i.e. the paid off value – can be unlocked to release cash that can be used for other purposes. The lifetime mortgage is the most popular option for equity release – 75% of the new equity release arrangements agreed at the end of last year were of this type. Lifetime mortgages release a cash sum from the property but don’t require monthly repayments http://bit.ly/2FFz1UT

Equity release is a frequently discussed topic these days. According to statistics from the Equity Release Council, older homeowners released £3.06 billion of equity from their homes in 2017. In the last quarter of 2017 the equity release industry broke new records with annual lending growth in the sector reaching the highest levels since 2002. So, equity release is clearly a popular option for older UK homeowners – but is the trend likely to continue? What is equity release? It is a way for UK homeowners to access some of the value that has been built up in their property by paying off the mortgage. The equity in the property – i.e. the paid off value – can be unlocked to release cash that can be used for other purposes. The lifetime mortgage is the most popular option for equity release – 75% of the new equity release arrangements agreed at the end of last year were of this type. Lifetime mortgages release a cash sum from the property but don’t require monthly repayments http://bit.ly/2t2kksn

“Alarming” increases in consumer debt have been much in the media in recent times. New figures show that unsecured debt could exceed £15,000 per household in 2019, rising to £19,000 per household by 2022. This is not debt made up of mortgages but purely unsecured debt, such as personal loans and credit cards. The statistics have triggered fears that whole swathes of the UK population will end up with debt that they can’t afford to repay – the effect of which could be disastrous for the economy as a whole. However, while there’s no doubt that household debt levels are certainly rising, the demographic affected by this is not as many have predicted. Who is taking on this new debt? New research from the Bank of England and the Financial Conduct Authority has found that new borrowing is not necessarily being driven by desperation. The research has identified that these borrowers have good credit ratings and no mortgages. So, they are not made up of “the struggling poor.” Thttp://bit.ly/2CK7dvy

“Alarming” increases in consumer debt have been much in the media in recent times. New figures show that unsecured debt could exceed £15,000 per household in 2019, rising to £19,000 per household by 2022. This is not debt made up of mortgages but purely unsecured debt, such as personal loans and credit cards. The statistics have triggered fears that whole swathes of the UK population will end up with debt that they can’t afford to repay – the effect of which could be disastrous for the economy as a whole. However, while there’s no doubt that household debt levels are certainly rising, the demographic affected by this is not as many have predicted. Who is taking on this new debt? New research from the Bank of England and the Financial Conduct Authority has found that new borrowing is not necessarily being driven by desperation. The research has identified that these borrowers have good credit ratings and no mortgages. So, they are not made up of “the struggling poor.” Thttp://bit.ly/2EQTngE

Car finance is an enormously popular way to own a car in the UK. Personal Contract Plans (PCPs) are now used for four in five new cars that are purchased and there are millions of these loans now in force in this country. However, some consumers have found that when the time comes to hand back the vehicle, if this is done via a voluntary surrender then there may well be some unanticipated additional costs. The mechanics of the PCP The PCP is essentially a hire purchase agreement that enables someone without the cash to buy a car up front to borrow the money and repay in instalments. PCPs are structured around an initial deposit and a series of monthly payments that are made over three to four years. These monthly payments are calculated to cover the fall in value of the car as it ages. When the PCP contract comes to an end the car can either be purchased or it can be handed back without any additional cash to pay. If the car is to be handed back then it must be in decent condition andhttp://bit.ly/2sJ97N2

The market for guarantor loans has grown significantly in the UK over the past couple of years. Particularly for younger people with impaired or inadequate credit ratings, a guarantor loan often represents the only opportunity to be able to borrow. George Banco has risen to prominence as a guarantor loan lender over the past few years and towards the end of 2017 was acquired by a fellow sub-prime lender, Non-Standard Finance PLC. Who is George Banco? The lender was established in 2014 and offers guarantor loans. This is a type of lending that requires a third party to stand as surety for a loan. It enables someone without a great credit rating to be able to borrow, thanks to the guarantor system. Guarantors are required to be over 18 and are usually homeowners with a good credit rating. In the years since it was established, George Banco has expanded considerably and has become the second most prominent provider in the guarantor loans market. When the company was acquired it had a loahttp://bit.ly/2CbsUJ2

We re pleased to announce that our third short story competition is open for entries. Entries to our previous competition grew significantly compared to our inaugural one. And we re expecting a lot of interest in the new one not least because of its theme and a certain event that it coincides with! The theme of this competition is The Wedding Gift . It can be interpreted any way you wish, but we do recommend you take heed of our judges advice following our previous competition: As a writer, it’s worth remembering that your first idea for a story may often be someone else’s too, so it might be a good idea to dig again more deeply for a different or more unusual idea? Here are the competition s rules and terms & conditions. They should all be self-explanatory. Not only is the competition FREE to enter (unlike many others) but you could also WIN a first prize of £250 or a runners up prize of £50! Please be aware that your entry must be received by midnight on Thursday 31st May 2018http://bit.ly/2sBYuvD